By Dickson Bandera
HARARE – Zimbabwe has signed a US$66.9 million Commercial Joint Venture Agreement to develop bulk infrastructure in the Masuwe Special Economic Zone, a strategic investment expected to expand Victoria Falls’ tourism capacity, unlock large-scale private investment and reinforce the city’s position as one of Africa’s leading tourism and investment destinations.
The agreement, signed between Mosi Oa Tunya Development Company (Private) Limited, a development company under the Ministry of Tourism and Hospitality Industry, and Victoria Seven Investments (Private) Limited under the J.R. Goddard Consortium, will see the development of water and sewer reticulation, electricity distribution and telecommunications infrastructure at Lot 1 of Jafuta Estate, part of the 271-hectare Masuwe Special Economic Zone in Victoria Falls.
The signing follows Cabinet’s approval in April 2026 of the Public-Private Partnership (PPP), paving the way for one of the country’s most significant tourism infrastructure investments aimed at supporting long-term growth in Zimbabwe’s flagship tourism destination.
The bulk infrastructure will service a range of high-value developments, including hotels, luxury villas, chalets, safari lodges, holiday homes, a golf estate, commercial and financial precincts, medical facilities, a Tourism Academy and the under-construction International Multi-purpose Cricket Stadium, creating an integrated mixed-use tourism and investment hub.
Officiating at the signing ceremony on behalf of the Minister of Tourism and Hospitality Industry, Hon Barbara Rwodzi, Deputy Minister Hon Tongai Mafidi Mnangagwa said the investment demonstrated Government’s commitment to using Public-Private Partnerships to accelerate infrastructure development, attract private capital and drive inclusive economic growth.
He described the agreement as a transformative milestone that positions tourism as a catalyst for infrastructure development, investment and employment creation, while marking the realisation of a vision first conceived in 2012 for the Masuwe Special Economic Zone.
“Through Mosi Oa Tunya Development Company, Government is leveraging land equity to unlock private sector investment that will strengthen Zimbabwe’s tourism infrastructure, elevate visitor experiences and further position Victoria Falls as a leading high-value tourism and investment destination,” he said.
The Deputy Minister added that the complementary investments planned within the special economic zone would create an integrated tourism ecosystem capable of supporting increased visitor arrivals, new business opportunities and expanded economic activity across the region.
The project advances President Emmerson Mnangagwa’s Vision 2030 of attaining upper-middle-income economy status and aligns with the National Development Strategy 2, which identifies tourism as one of Zimbabwe’s key economic growth sectors capable of generating foreign currency, employment and community development through sustainable investment.
Victoria Falls remains Zimbabwe’s premier tourism destination and one of the world’s most iconic natural attractions. The town is anchored by the majestic Victoria Falls, locally known as Mosi-oa-Tunya—”The Smoke That Thunders”—where the Zambezi River plunges more than 100 metres into a series of basalt gorges, creating the world’s largest curtain of falling water. The destination attracts visitors from across the globe for its spectacular scenery, adventure tourism, wildlife experiences and meetings, incentives, conferences and exhibitions (MICE) tourism.
The surrounding landscape forms part of the Kavango–Zambezi Transfrontier Conservation Area (KAZA TFCA), the world’s largest transboundary conservation area, which spans five Southern African countries. The region is renowned for its rich biodiversity, supporting large populations of elephants, buffalo, lions, leopards, giraffes, zebras, hippos and crocodiles, while more than 400 bird species inhabit its teak forests, mopane woodlands and riverine ecosystems.
Tourism experts say the Masuwe Special Economic Zone will complement these natural assets by providing the infrastructure needed to accommodate increased investment without compromising environmental sustainability. By creating serviced land for tourism and commercial developments, the project is expected to stimulate new investments, broaden the destination’s accommodation and leisure offerings, and generate employment during both the construction and operational phases.
The agreement also reflects Zimbabwe’s growing reliance on Public-Private Partnerships to finance strategic infrastructure, with Government leveraging public assets to mobilise private sector investment in support of national development priorities.
The Masuwe Special Economic Zone is expected to become a major catalyst for the next phase of growth in Victoria Falls, strengthening the city’s role not only as one of Africa’s leading tourism destinations but also as a regional hub for investment, hospitality, business and sustainable economic development.
